dMY Technology Group, Inc. II Announces Closing of Underwriters’ Over-Allotment Option in Connection with its Initial Public Offering
Summary
NEW YORK--(BUSINESS WIRE)--dMY Technology Group, Inc. II (the "Company") announced today the closing of the issuance of an additional 3,600,00 units pursuant to the full exercise of the underwriters’ over-allotment option in connection with the Company’s initial public offering. The units are listed on The New York Stock Exchange (the "NYSE") and began trading under the ticker symbol "DMYD.U" on August 14, 2020. While the Company may pursue an initial business combination target in any industry or geographic region, the Company intends to focus its search for an initial business combination on companies within the broader consumer technology ecosystem that are either consumer-facing or support the infrastructure of consumer applications (“apps”) with enterprise valuations in an approximate valuation range of $1.0 billion to $3.0 billion, though the Company’s search may span consumer software segments worldwide and may pursue a target outside its expected range. The Company intends to specifically focus on companies that have created, or enabled the creation of, compelling mobile app experiences with significant growth in segments such as gaming, entertainment, education, work productivity, e-commerce, dating, financial technology, and health and wellness. Companies developing disruptive and key enablement technologies for consumer-facing apps in these segments, such as artificial intelligence (“AI”), machine learning (“ML”), cloud infrastructures and quantum computing are also within the scope of this search.